The Grow Your Wealthy Mindset Podcast

Elisa Chiang
  • 5.0 (15)
  • Arts
  • Updated Weekly

Grow your wealth by working on your mindset and up leveling your game. Your thoughts about money have created your current financial net worth. Sadly, there are many physicians who are have earned a good income but have not built wealth. More and more physicians are becoming burned out as our health care system continues to change. Join the movement of physicians embarking on the journey to take matters in our own hands so we can continue to thrive. Tune in each week to learn more on how to grow your wealthy mindset! Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms. Please subscribe and leave a review on your favorite Podcasting platform. You can learn more about Elisa at her website or follow her on social media. Website: www.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/elizabeth-chiang-0582a432

  1. 11h ago

    Episode 215: Is the Free $1,000 From a Trump Account Actually a Trap

    Trump Accounts (technically known as 530A IRA savings plans) became available for parents looking to build wealth for their kids. But are they actually worth it? In this follow-up to Episode 198, we dive deep into the strict rules, surprising lack of tax breaks for individuals, and the heavy impact these accounts can have on college financial aid. However, there are two massive exceptions: a free $1,000 government grant for specific children and a potential tax loophole for business owners.   What We Cover in This Episode: The Basics: What a 530A Trump Account is, who qualifies, and how to open one using IRS Form 4547.The Free $1,000 Grant: Why parents of children born between January 1, 2025, and December 31, 2028, should absolutely open an account, even if they never contribute a single penny.The Business Owner Loophole: How entrepreneurs and private practice owners can use their business to make a $2,500 tax-deductible contribution. The Hidden Downsides: Why individual/parent contributions are not tax-deductible.The strict investment lock-up period until the child turns 18.Lack of diversification: Why these accounts are heavily concentrated in a handful of massive AI tech stocks.The financial aid trap: Why student-owned assets can aggressively hurt your FAFSA calculations compared to 529 plans or Roth IRAs.  The Ultimate Verdict Scenario A: If your kid qualifies for the free $1,000 government grant, open the account immediately via IRS Form 4547 or the Trump Accounts App. Take the free cash, let it sit in the U.S. stock market, and do not add your own money. Scenario B: If they don't qualify for the grant and you aren't a business owner utilizing the employer deduction, pass on it. You are almost certainly better off using a Roth IRA, a 529 plan, or a standard Custodial Account (UTMA/UGMA). ⚠️ Disclaimer: I am a podcast host, not a CPA! Financial laws and tax strategies have a lot of fine print. Always consult with a certified tax professional or CPA before making major changes to your business or family investing strategy. Please subscribe and leave a review on your favorite Podcasting platform.  Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching . You can learn more about Elisa at her website or follow her on social media. Website: https://ww.GrowYourWealthyMindset.com Instagram https://www.instagram.com/GrowYourWealthyMindset Facebook https://www.facebook.com/ElisaChiang https://www.facebook.com/GrowYourWealthyMindset YouTube: https://www.youtube.com/c/WealthyMindsetMD Linked In: www.linkedin.com/in/ElisaChiang  Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...

  2. Aug 12

    Replay Episode 46: Accredited Investor and other Investor Classifications

    In this episode, I discussed what is an Accredited Investor and what opportunities are available to people who qualified and an Accredited Investor. I also discussed Qualified Client and Qualified Purchaser. Welcome to the world of expanded investment opportunities! Please subscribe and leave a review on your favorite Podcasting platform.  Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching . You can learn more about Elisa at her website or follow her on social media. Website: https://ww.GrowYourWealthyMindset.com Instagram https://www.instagram.com/GrowYourWealthyMindset Facebook https://www.facebook.com/ElisaChiang https://www.facebook.com/GrowYourWealthyMindset YouTube: https://www.youtube.com/c/WealthyMindsetMD Linked In: www.linkedin.com/in/ElisaChiang  Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...

  3. Aug 5

    Episode 214: Same Team, Same Dream? How Couples Handle Money

    Is there a "right" way to handle money in a marriage? In this episode, we dive into the widely debated topic of how couples manage and split their finances. From fully merged joint accounts to the popular "His, Hers, and Ours" approach, we explore real-world data from hundreds of dual-income couples and breakdown the pros and cons of each system. But as you’ll learn, the logistics of your bank accounts matter far less than your underlying money mindsets. Tune in to discover how to navigate different spending philosophies, handle differing financial goals (like funding college vs. making luxury purchases), and find a system that keeps you on the same team. What You’ll Learn in This Episode: The 3 Main Financial Systems: A breakdown of fully joint, hybrid, and completely separate financial setups.Real-World Data: The surprising stats on how the majority of dual-income physician couples actually manage their money.Behind the Comments: Real-life examples and perspectives from couples navigating income disparities and student loans.Navigating Different Money Philosophies: How to handle it when opposites attract (e.g., a saver marrying a free-spender).The Key to Financial Unity: Why alignment on your core values matters more than who pays which bill.Please subscribe and leave a review on your favorite Podcasting platform.  Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching . You can learn more about Elisa at her website or follow her on social media. Website: https://ww.GrowYourWealthyMindset.com Instagram https://www.instagram.com/GrowYourWealthyMindset Facebook https://www.facebook.com/ElisaChiang https://www.facebook.com/GrowYourWealthyMindset YouTube: https://www.youtube.com/c/WealthyMindsetMD Linked In: www.linkedin.com/in/ElisaChiang  Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...

  4. Jul 29

    Replay Episode 51: Financial Terms with Investing

    Just like the world of medicine has its own language, the world of finance and investing also has its own language. This is why when you first starting developing your financial literacy, everything seems complicated. By learning the meaning of different terms, everything starts to make more sense. In this episode, I go over various financial terms you’ll encounter when you look at different investments.   Please subscribe and leave a review on your favorite Podcasting platform.  Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching . You can learn more about Elisa at her website or follow her on social media. Website: https://ww.GrowYourWealthyMindset.com Instagram https://www.instagram.com/GrowYourWealthyMindset Facebook https://www.facebook.com/ElisaChiang https://www.facebook.com/GrowYourWealthyMindset YouTube: https://www.youtube.com/c/WealthyMindsetMD Linked In: www.linkedin.com/in/ElisaChiang  Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...

  5. Jul 22

    Episode 213: Opting Out of the Default Wills, Prenups, and Taking Control

    Talking about death and divorce is never romantic, but staying silent means letting the government make your most personal decisions for you. In this episode, we break down a surprising truth: Everyone already has a default prenup and a default will. If you don’t write your own, your state’s laws will step in to dictate how your assets are handled during a divorce or after your death. We explore why these topics make us so uncomfortable, how to overcome the anxiety, and why prenups are actually the ultimate exercise in financial intimacy. Plus, we look at why—for physicians specifically—legal planning is vital "preventative medicine" to protect against high student debt, future earning potential, and professional liability. I also share a bit of full transparency about why my husband and I didn't get a prenup when we were young.   What We Cover: The Default Reality: Why silence means accepting the state's rules for your estate and marriage.Overcoming Taboos: Navigating the emotional and cultural anxieties around money.Preventative Medicine for Docs: Why high debt, high future earnings, and liability change the game for physicians.Host Transparency: My personal story of marrying young with a negative net worth.Please subscribe and leave a review on your favorite Podcasting platform.  Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching . You can learn more about Elisa at her website or follow her on social media. Website: https://ww.GrowYourWealthyMindset.com Instagram https://www.instagram.com/GrowYourWealthyMindset Facebook https://www.facebook.com/ElisaChiang https://www.facebook.com/GrowYourWealthyMindset YouTube: https://www.youtube.com/c/WealthyMindsetMD Linked In: www.linkedin.com/in/ElisaChiang  Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...

  6. Jul 15

    Replay Episode 31: Growth vs Fixed Mindset

    Replay Episode 31: Growing a Wealthy Mindset Financial literacy is an important part of building wealth—but knowledge alone isn't enough. A truly wealthy mindset starts with believing that you can learn, grow, and develop new skills throughout your life. In this replay episode, we explore the powerful concept of the growth mindset and how the way you think about your abilities can impact your financial success, career growth, and overall fulfillment.   In This Episode, You'll Learn: The difference between a growth mindset and a fixed mindsetHow your beliefs about intelligence, talent, and ability shape your actionsWhy mistakes and setbacks can become powerful learning opportunitiesHow embracing challenges can accelerate personal and financial growthThe role of neuroplasticity and how your brain continues to learn and adapt throughout adulthoodPractical strategies to shift from self-limiting thoughts to growth-oriented thinkingHow process-focused goals can be more effective than outcome-focused goalsWhy surrounding yourself with growth-minded people matters Books Mentioned Mindset: The New Psychology of Success by Carol Dweck Atomic Habits by James Clear Eat That Frog! by Brian Tracy Who Not How by Dan Sullivan and Dr. Benjamin Hardy Think and Grow Rich by Napoleon Hill Please subscribe and leave a review on your favorite Podcasting platform.  Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching . You can learn more about Elisa at her website or follow her on social media. Website: https://ww.GrowYourWealthyMindset.com Instagram https://www.instagram.com/GrowYourWealthyMindset Facebook https://www.facebook.com/ElisaChiang https://www.facebook.com/GrowYourWealthyMindset YouTube: https://www.youtube.com/c/WealthyMindsetMD Linked In: www.linkedin.com/in/ElisaChiang  Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...

  7. Jul 8

    Episode 212: Social Secuirty Strategies for Married Couples

    Welcome back to part two of our deep dive into Social Security! In episode 209, we covered the foundational basics of how the system works for individuals. Today, we are shifting the focus to couples. Coordinating your Social Security strategy as a married couple is one of the most powerful ways to secure your joint retirement, yet it is frequently misunderstood. In this episode, we break down exactly how spousal and survivor benefits work, why the "higher earner" holds the key to long-term security, and how to map out a synchronized timeline to maximize your lifetime collective payout. Resources: Social Security Administration Official Site: SSA.gov Missed Part 1? Listen to Episode 209: When to Start Taking Social Security Benefits  Please subscribe and leave a review on your favorite Podcasting platform.  Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching . You can learn more about Elisa at her website or follow her on social media. Website: https://ww.GrowYourWealthyMindset.com Instagram https://www.instagram.com/GrowYourWealthyMindset Facebook https://www.facebook.com/ElisaChiang https://www.facebook.com/GrowYourWealthyMindset YouTube: https://www.youtube.com/c/WealthyMindsetMD Linked In: www.linkedin.com/in/ElisaChiang  Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...

  8. Jul 1

    Replay Episode 33: Traditional Mutual Funds vs. Exchange Traded Funds

    In this replay episode, we're revisiting one of the most common investing questions: Should you invest in exchange-traded funds (ETFs) or mutual funds? Both ETFs and mutual funds can be excellent investment vehicles, especially when you're investing in low-cost index funds. In this episode, I break down the key similarities and differences between the two, including: How ETFs and mutual funds provide diversificationDifferences in trading and pricingMinimum investment requirementsAutomatic investing and dollar-cost averagingTax efficiency considerationsExpense ratios and other costsDividend reinvestmentTransparency and fund holdingsImportant Update Since the Original Recording In the original episode, I discussed how ETFs generally had to be purchased in whole shares while mutual funds could be purchased in fractional shares. Since that recording, many major brokerages now allow investors to purchase fractional shares of ETFs, making it possible to invest a specific dollar amount without buying a full share. As a result, one of the historical advantages of mutual funds has become less significant for many investors. However, availability of fractional-share ETF investing varies by brokerage platform, so be sure to check your brokerage's specific features. Key Takeaway For long-term investors, the choice between ETFs and mutual funds often comes down to convenience, costs, tax considerations, and personal preference rather than investment performance. Both can be effective tools for building wealth when used as part of a disciplined, long-term investing strategy. Please subscribe and leave a review on your favorite Podcasting platform.  Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching . You can learn more about Elisa at her website or follow her on social media. Website: https://ww.GrowYourWealthyMindset.com Instagram https://www.instagram.com/GrowYourWealthyMindset Facebook https://www.facebook.com/ElisaChiang https://www.facebook.com/GrowYourWealthyMindset YouTube: https://www.youtube.com/c/WealthyMindsetMD Linked In: www.linkedin.com/in/ElisaChiang  Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...

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Grow your wealth by working on your mindset and up leveling your game. Your thoughts about money have created your current financial net worth. Sadly, there are many physicians who are have earned a good income but have not built wealth. More and more physicians are becoming burned out as our health care system continues to change. Join the movement of physicians embarking on the journey to take matters in our own hands so we can continue to thrive. Tune in each week to learn more on how to grow your wealthy mindset! Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms. Please subscribe and leave a review on your favorite Podcasting platform. You can learn more about Elisa at her website or follow her on social media. Website: www.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/elizabeth-chiang-0582a432

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